topic Re: BECU Visa Question? in Credit Cards

BECU Visa Question?

steelers1 — Sun, 19 Jan 2020 14:18:41 GMT

For those of you who have a BECU Visa is the total credit line available for cash advances or just a portion of it?

TIA

Re: BECU Visa Question?

K-in-Boston — Sun, 19 Jan 2020 16:18:42 GMT

With many credit unions it is the full credit line. I just looked at my online account, my congratulations letter, and the fees and disclosures statement that came with my card and nothing mentions a cash advance limit. I haven't had a statement generate yet, so I can't check there.

Re: BECU Visa Question?

steelers1 — Sun, 19 Jan 2020 18:35:33 GMT

@K-in-Boston wrote:
With many credit unions it is the full credit line. I just looked at my online account, my congratulations letter, and the fees and disclosures statement that came with my card and nothing mentions a cash advance limit. I haven't had a statement generate yet, so I can't check there.

Thank you for the response K!

I plan to app soon I just wanted to make sure. My Penfed and Consumers CU cards put no limitations on cash advances but Navy does. I do utilize the lines occasionally and with no fees it acts like a line of credit. Which is a very nice option.

Re: BECU Visa Question?

Anonymous — Sun, 19 Jan 2020 20:30:09 GMT

It's my understanding that the card has a $5K cash advance max and you have to call. I would call and ask them.

Re: BECU Visa Question?

Anonymous — Sun, 19 Jan 2020 20:36:56 GMT

Just looked it up on their website and it seems a bit more difficult than most.

"Cash advances can be requested using your credit card and PIN at any supported ATM machine. Note: BECU does not charge cash advance fees, but non-network ATM fees may apply. Alternatively, you may request a cash advance of $100 or more in person, over the phone, or through secure messaging within Online Banking. Cash advance requests exceeding $5,000 require a signature."

https://www.becu.org/everyday-banking/credit-card/credit-card-frequently-asked-questions

Sounds like cash advances are on a case by case basis to me instead of a fixed limit.

Re: BECU Visa Question?

steelers1 — Sun, 19 Jan 2020 21:40:11 GMT

@Anonymous wrote:
Just looked it up on their website and it seems a bit more difficult than most.

"Cash advances can be requested using your credit card and PIN at any supported ATM machine. Note: BECU does not charge cash advance fees, but non-network ATM fees may apply. Alternatively, you may request a cash advance of $100 or more in person, over the phone, or through secure messaging within Online Banking. Cash advance requests exceeding $5,000 require a signature."

https://www.becu.org/everyday-banking/credit-card/credit-card-frequently-asked-questions

Sounds like cash advances are on a case by case basis to me instead of a fixed limit.

Thank you for your reply.

With the other credit unions I have I can transfer from card to checking and that what I was wondering about not necessarily cash in hand. I am self employed and use this feature to cover expenses waiting for receivables to roll in.

Re: BECU Visa Question?

Anonymous — Sun, 19 Jan 2020 21:43:13 GMT

@steelers1 wrote:
@Anonymous wrote:
Just looked it up on their website and it seems a bit more difficult than most.

"Cash advances can be requested using your credit card and PIN at any supported ATM machine. Note: BECU does not charge cash advance fees, but non-network ATM fees may apply. Alternatively, you may request a cash advance of $100 or more in person, over the phone, or through secure messaging within Online Banking. Cash advance requests exceeding $5,000 require a signature."

https://www.becu.org/everyday-banking/credit-card/credit-card-frequently-asked-questions

Sounds like cash advances are on a case by case basis to me instead of a fixed limit.
Thank you for your reply.

With the other credit unions I have I can transfer from card to checking and that what I was wondering about not necessarily cash in hand. I am self employed and use this feature to cover expenses waiting for receivables to roll in.

Since it mentions sending a secure message through online banking to get a cash advance, which obviously wouldn't be cash in hand, I would assume you can't just do a transfer from your card to checking account like most CUs.

I would just call and ask them.

Re: BECU Visa Question?

Anonymous — Mon, 20 Jan 2020 06:49:26 GMT

My statement says my entire credit limit is available for cash advance. But the option to transfer directly to checking is not available for the credit card, just the LOC.

Re: BECU Visa Question?

steelers1 — Mon, 20 Jan 2020 14:41:30 GMT

@Anonymous wrote:
My statement says my entire credit limit is available for cash advance. But the option to transfer directly to checking is not available for the credit card, just the LOC.

Thank you!

Re: BECU Visa Question?

UH_HUH — Thu, 23 Jan 2020 01:25:38 GMT

I have not used the feature,but I can transfer from my PLOC

to my savings or checking account. Tested $5,000.00 no problems.

Have $20K in Credit but have never tried transfering it.

They are very friendly on the phone. YEMV..speaking from my

expierience only :-)

Good luck to you,

Cheers

Re: BECU Visa Question?

NRB525 — Thu, 23 Jan 2020 06:39:58 GMT

@steelers1 wrote:
@Anonymous wrote:
My statement says my entire credit limit is available for cash advance. But the option to transfer directly to checking is not available for the credit card, just the LOC.
Thank you!

Which leads to my suggestion, if you really need cash advances to cover expected AR, is that not a LOC sort of path? BECU offers LOC with no fees and similar low APR for good credit, why not just go for the LOC? The advances are direct to your BECU checking or savings in an explicit on line Transfer request. ( I have BECU checking, savings, non-rewards CC, and LOC )

Re: BECU Visa Question?

steelers1 — Thu, 23 Jan 2020 13:11:57 GMT

@NRB525 wrote:
@steelers1 wrote:
@Anonymous wrote:
My statement says my entire credit limit is available for cash advance. But the option to transfer directly to checking is not available for the credit card, just the LOC.
Thank you!
Which leads to my suggestion, if you really need cash advances to cover expected AR, is that not a LOC sort of path? BECU offers LOC with no fees and similar low APR for good credit, why not just go for the LOC? The advances are direct to your BECU checking or savings in an explicit on line Transfer request. ( I have BECU checking, savings, non-rewards CC, and LOC )

Yes that is what I intend to do.

Thank you